U.S. Capital Wealth Advisors LLC lifted its position in shares of Extra Space Storage Inc. (NYSE:EXR – Free Report) by 13.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,988 shares of the real estate investment trust’s stock after acquiring an additional 1,213 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Extra Space Storage were worth $1,494,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Greenleaf Trust increased its holdings in shares of Extra Space Storage by 15.0% during the fourth quarter. Greenleaf Trust now owns 2,160 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 282 shares during the period. Golden State Equity Partners grew its holdings in shares of Extra Space Storage by 36.1% during the 4th quarter. Golden State Equity Partners now owns 3,245 shares of the real estate investment trust’s stock worth $485,000 after purchasing an additional 861 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Extra Space Storage by 7.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,852 shares of the real estate investment trust’s stock worth $1,025,000 after purchasing an additional 476 shares in the last quarter. Cibc World Market Inc. grew its holdings in shares of Extra Space Storage by 6.1% during the 4th quarter. Cibc World Market Inc. now owns 120,834 shares of the real estate investment trust’s stock worth $18,077,000 after purchasing an additional 6,899 shares in the last quarter. Finally, Manning & Napier Advisors LLC grew its holdings in shares of Extra Space Storage by 1,127.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust’s stock worth $116,985,000 after purchasing an additional 718,266 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.
Insider Activity
In other Extra Space Storage news, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the sale, the director now owns 5,877 shares of the company’s stock, valued at $967,119.12. This trade represents a 34.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.
Extra Space Storage Price Performance
Extra Space Storage Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $6.48 annualized dividend and a dividend yield of 4.26%. Extra Space Storage’s dividend payout ratio is currently 169.63%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on EXR shares. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Barclays lowered their price target on Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Evercore ISI reduced their price objective on Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Scotiabank raised Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective on the stock in a research note on Friday, January 10th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $174.00.
Check Out Our Latest Report on Extra Space Storage
Extra Space Storage Profile
Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.
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